Wed, 07 Dec 2022

S.Korea's ICT products export falls in July

11 Aug 2022, 16:05 GMT+10

SEOUL, Aug. 11 (Xinhua) -- South Korea's export of information and communications technology (ICT) products logged the first fall in over two years last month, government data showed Thursday.

ICT products shipment dwindled 0.7 percent over the year to 19.34 billion U.S. dollars in July, according to the Ministry of Trade, Industry and Energy. It marked the first decline in 26 months since May 2020.

Import for ICT products climbed 16.8 percent to 13.22 billion dollars, sending the trade surplus to 6.12 billion dollars in July. The surplus was down 2.03 billion dollars from a year earlier.

Semiconductor export grew 3.1 percent from a year earlier to 11.38 billion dollars in July, topping 10 billion dollars for the 15th consecutive month.

System chip export kept a double-digit increase for the 16th straight month, but memory chip shipment diminished 13.5 percent to 6.17 billion dollars.

Display panel shipment reduced 4.7 percent to 2 billion dollars, and mobile devices export went down 29.2 percent to 680 million dollars.

ICT products export to the United States shrank 9.2 percent over the year to 2.41 billion dollars in July, marking the first reduction in 31 months.

ICT shipment to Vietnam and the European Union (EU) kept growing for 16 months and 23 months in a row respectively.

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